The numbers
The FTSE 100 entered correction territory on March 23, 2026, reflecting broader market volatility. Amidst this backdrop, Applied Nutrition reported a remarkable revenue surge of 55.6% to £74.5 million for the six months ending January 31, 2026. This growth is accompanied by an adjusted pre-tax profit increase of 53.7%, reaching £20.9 million.
Despite the challenges in the market, Applied Nutrition maintains its annual revenue outlook at approximately £140 million, which indicates a robust 30% year-on-year growth. A representative from the company remarked, “I like what I see here,” emphasizing their positive outlook amidst fluctuating market conditions.
In contrast, Goodwin plc faced significant setbacks, with shares plummeting 35% after the company lost two major tenders valued at around £60 million. The mechanical engineering division expressed disappointment over these outcomes, stating, “The mechanical engineering division has been disappointed by the outcome of two significant tenders during the period.” This decline has raised concerns among investors.
As of the end of February 2026, Goodwin plc’s firm fixed orderbook stood at £288 million, and its share price is currently at 14,900 pence, giving it a market capitalization of £1.13 billion. The company noted that Easat lost a tender for 20 units of 7.5 metre Coastal Radar Antenna and Transceivers, with a contract value of approximately €18 million, relating to installations off the coast of Estonia.
Meanwhile, Next has reported a positive trend in its sales, with full-price sales increasing by 10.6% in the nine weeks leading to December 27, 2025. This performance has prompted the company to upgrade its pre-tax profit guidance to £1.15 billion for the full year, with expectations of a further 4.5% growth to £1.2 billion for the upcoming year.
The FTSE 100 has been higher now than it was five years ago despite recent pullbacks, indicating a resilient market over the long term. However, the immediate future remains uncertain, particularly for companies like Goodwin plc, as they navigate through these challenges.
Details remain unconfirmed regarding the impact of the Iran situation on shipping routes and sales growth for Applied Nutrition, adding another layer of complexity to the current market landscape. Observers are keenly watching how these dynamics will unfold in the coming months.
